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Energy saving obligations—cutting the Gordian Knot of leverage?

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journal contribution
posted on 2023-06-08, 21:57 authored by Clemens Rohde, Jan Rosenow, Nick Eyre, Louis-Gaëtan Giraudet
Better leverage of public funding is essential in order to trigger the investment needed for energy efficiency. In times of austerity governments increasingly look at policy instruments not funded by public expenditure and energy saving obligations represent one option. Because energy saving obligations are paid for by all energy customers, the degree to which they are able to raise additional private capital for energy efficiency investments is crucial with regard to the financial burden on consumers. In this paper, we systematically assess how successful energy saving obligations were in levering capital from parties other than the obligated entities including private investors and other public bodies. We analyse three countries with substantial experience with energy saving obligations, identify the main design differences and the effect this has on the degree of leverage. We conclude that the design of energy saving obligations largely determines the degree of leverage and that that there appears to be a trade-off between high leverage and additionality.

History

Publication status

  • Published

File Version

  • Accepted version

Journal

Energy Efficiency

ISSN

1570-646X

Publisher

Springer

Issue

1

Volume

8

Page range

129-140

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2015-07-30

First Open Access (FOA) Date

2016-03-01

First Compliant Deposit (FCD) Date

2015-07-30

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